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As explained here, it is a way to show disdain for an idea by saying it twice, except the 2nd time you impose ‘Schm’ as prefix or on top of the first consonant:
He sells on eBay now? eBay schmebay !
You hanging out on Facebook now? Facebook schmacebook !
(Often done to humorous effects, it enjoyed some rise of recognition along with the popularity of the Jerry Seinfeld show.)
I know of only 1 other language that has that same kind of expression; but in that, Vietnamese, it is the last diphthong, -iáº¿c:
NuÃ´i chÃ³ nuÃ´i chiáº¿c ! : showing disdain for keeping pet dogs.
Du khÃ¡ch du khiáº¿c ! : showing disdain for tourists.
All that is just to ask the obvious question: Are there many languages that have a similar pattern of usage?